Integrated Energy Distribution and Marketing
Limited, a firm in which the former Head of State,
Gen. Abdusalami Abubakar, is the chairman, is in
the lead to acquire three of the juiciest electricity
distribution companies in the country.
The electricity distribution companies are Eko,
Ikeja and Ibadan.
Integrated Energy Distribution and Marketing was
prequalified to take control of the companies at
the opening of bids submitted by 20 firms
jostling for controlling stakes in 10 electricity
distribution companies put up for privatisation
by the Federal Government on Tuesday in Abuja.
Although frontline bidders for the companies
emerged, clear winners of the bids had yet to
emerge, as the rules for the bidding employed by
the Bureau of Public Enterprises prescribed that
the bidders would still be subjected to further
tests.
Although some bidders emerged top contenders
in a number of companies, one of the rules
states that no company can be allowed to win
more than two bids.
In addition, no company will be allowed to win
both the Ikeja and Eko Electricity Distribution
Companies, which collectively generate about 45
per cent of the total revenue of the Power
Holding Company of Nigeria.
Based on the rules, the National Council on
Privatisation, led by Vice-President Namadi
Sambo, will still subject the top contenders to
scrutiny before announcing the eventual winners.
-PUNCH
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